Good Morning,
As you can see on this weekly chart the price for Link/USD (Coinbase) made a higher low at 15.001 and the RSI made a lower low at 44.1 - I have only seen this divergence on Coinbase.
This divergence alone will not confirm a reversal and the current price action seems to indicate more downside is likely. We can further see the weekly chart forming a descending triangle pattern which would indicate more downside. If we lose $15 single-digit link is a possibility. We have hope for a bounce at $12. I predict a bloody weekend. I remain bullish on link mid to long term. Let me know your thoughts.
As you can see on this weekly chart the price for Link/USD (Coinbase) made a higher low at 15.001 and the RSI made a lower low at 44.1 - I have only seen this divergence on Coinbase.
This divergence alone will not confirm a reversal and the current price action seems to indicate more downside is likely. We can further see the weekly chart forming a descending triangle pattern which would indicate more downside. If we lose $15 single-digit link is a possibility. We have hope for a bounce at $12. I predict a bloody weekend. I remain bullish on link mid to long term. Let me know your thoughts.